Texas has nation’s largest economic stabilization fund (ESF), commonly called a “rainy day fund.” Ten Billion dollars.
https://comptroller.texas.gov/econom.../rainy-day.php
If the 2017 legislative session doesn’t tap the rainy day fund, it should contain about $10.3 billion by the end of fiscal 2017
The evil oil gas industry are biggest contributors.
The crude oil and natural gas production taxes are by far the most important funding sources for the fund, contributing more than 85 percent of its revenue over time.
The Texas Constitution authorizes the Legislature to make appropriations from the ESF.
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